Northern Hemisphere Development Corp.

Northern Hemisphere Development Corp.

January 10, 2007 09:15 ET

Northern Hemisphere Development Corp. Ties in 3 Wells for Immediate Production

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 10, 2007) - Northern Hemisphere Development Corp. (TSX VENTURE:NHD) announces three Triassic Halfway Development wells are going into production in the Trutch area (Bougie Trutch and Trutch East leases, totaling 41 square miles) and a new Trutch area Triassic Halfway exploratory well is also planned for this winter season.


Both the FET et al Tommy c-25-A/94-G-15 and FET et al Tommy b-56-A/94-G-15 natural gas development wells have been successfully tested and completed, building on the success of the FET et al Tommy c-36-A/94-G-15 Triassic Halfway discovery well which test flowed 1.65 MMcf.d after stimulation.

The Operator, Focus Energy Trust (FET), is equipping the c-25-A, c-36-A and b-56-A wells for production by extending its existing pipeline at Tommy Lakes with 14,217 meters of six inch pipe to the c-36-A well and 1,688 meters of four inch pipe from c-36-A to the b-56-A and c-25-A wells. Production is expected to begin in February. Initial production rates will be provided as soon as they are available. Northern Hemisphere has paid $455,000 for its 17.5% share of the pipeline.


Northern Hemisphere has also called for another Trutch area Triassic Halfway exploratory well to be drilled before breakup. The Company is seeking a license transfer for the b-86-A/94-G-15 well (WA20151) and is currently negotiating for a rig and qualified operator. The b-86-A application was approved by the BC Oil and Gas Commission last winter and is located north of the successful b-56-A well. Northern Hemisphere has already earned in to twenty-six sections (26 square miles) from the top of the Slave Point to the basement, and by drilling b-86-A to total depth, the Company will earn an additional six sections (6 square miles) for a total of 18 sections (18 square miles) of the Bougie Trutch lands from surface to above the Slave Point Formation. In total, Northern Hemisphere retains an option to earn a 17.5% interest in up to forty-one sections (41 square miles) in the Bougie Trutch and Trutch East properties.


Northern Hemisphere continues to be in a strong financial position. It has paid all development costs to date and retains approximately $1.5 million in cash surplus. It has ample cash on hand to fulfill all its drilling program commitments and working capital requirements for the next year.

Thomas W. Bainbridge, P.Geol., is the qualified consultant for the Company's natural gas projects and has reviewed and verified such information contained in this news release.


Alan Crawford, President & CEO

This release may contain forward-looking statements including expectations of future drilling, capital expenditures and production which involve risks and uncertainties.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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